United Spirits, UB Holdings rally on Diageo deal buzz

The board of these companies have schedule to meet tomorrow to consider Q2 results

Shares of Vijay Mallya promoted UB Group companies mainly Limited (USL) and United Breweries (Holdings) have rallied up to 7% on TV channel reports that top officials of USL are expected to meet today to continue discussing a potential stake sale.

The board of directors of both these companies have schedule to meet tomorrow to consider the un-audited financial results for the three months ended September 30, 2012.

Since September 25, the stock of USL and United Breweries (Holdings) have rallied 28% and 20% respectively after USL and Diageo plc jointly confirm that Diageo plc is in discussion with USL and United Breweries (Holdings) in respect of possible transactions for Diageo plc to acquire an interest in USL.

“Britain's drinks major Diageo is set to pick up a 51% stake in USL for about $2 billion (Rs 10,820 crore). The deal involves the purchase of a portion of Vijay Mallya's stock, the issue of fresh shares and an open offer to buy stock from public shareholders,” according to Mint report dated November 6.

Today, USL has rallied 7% to Rs 1,394 on back of heavy volumes. The stock opened at Rs 1,290 and has seen a combined 4.52 million shares changing hands on the counter so far on both the exchanges.

United Breweries (Holdings), which held 18% stake in USL, has locked in 5% upper circuit at Rs 132 on the NSE. A combined 3.76 million shares have already changed hands on the counter and there are pending buy orders for 272,559 shares at 1303 hours.

image
Business Standard
177 22
Business Standard

United Spirits, UB Holdings rally on Diageo deal buzz

The board of these companies have schedule to meet tomorrow to consider Q2 results

SI Reporter  |  Mumbai 



Shares of Vijay Mallya promoted UB Group companies mainly Limited (USL) and United Breweries (Holdings) have rallied up to 7% on TV channel reports that top officials of USL are expected to meet today to continue discussing a potential stake sale.

The board of directors of both these companies have schedule to meet tomorrow to consider the un-audited financial results for the three months ended September 30, 2012.

Since September 25, the stock of USL and United Breweries (Holdings) have rallied 28% and 20% respectively after USL and Diageo plc jointly confirm that Diageo plc is in discussion with USL and United Breweries (Holdings) in respect of possible transactions for Diageo plc to acquire an interest in USL.

“Britain's drinks major Diageo is set to pick up a 51% stake in USL for about $2 billion (Rs 10,820 crore). The deal involves the purchase of a portion of Vijay Mallya's stock, the issue of fresh shares and an open offer to buy stock from public shareholders,” according to Mint report dated November 6.

Today, USL has rallied 7% to Rs 1,394 on back of heavy volumes. The stock opened at Rs 1,290 and has seen a combined 4.52 million shares changing hands on the counter so far on both the exchanges.

United Breweries (Holdings), which held 18% stake in USL, has locked in 5% upper circuit at Rs 132 on the NSE. A combined 3.76 million shares have already changed hands on the counter and there are pending buy orders for 272,559 shares at 1303 hours.

RECOMMENDED FOR YOU

United Spirits, UB Holdings rally on Diageo deal buzz

The board of these companies have schedule to meet tomorrow to consider Q2 results

Shares of Vijay Mallya promoted UB Group companies mainly United Spirits Limited (USL) and United Breweries (Holdings) have rallied up to 7% on TV channel reports that top officials of USL are expected to meet Diageo today to continue discussing a potential stake sale.

Shares of Vijay Mallya promoted UB Group companies mainly Limited (USL) and United Breweries (Holdings) have rallied up to 7% on TV channel reports that top officials of USL are expected to meet today to continue discussing a potential stake sale.

The board of directors of both these companies have schedule to meet tomorrow to consider the un-audited financial results for the three months ended September 30, 2012.

Since September 25, the stock of USL and United Breweries (Holdings) have rallied 28% and 20% respectively after USL and Diageo plc jointly confirm that Diageo plc is in discussion with USL and United Breweries (Holdings) in respect of possible transactions for Diageo plc to acquire an interest in USL.

“Britain's drinks major Diageo is set to pick up a 51% stake in USL for about $2 billion (Rs 10,820 crore). The deal involves the purchase of a portion of Vijay Mallya's stock, the issue of fresh shares and an open offer to buy stock from public shareholders,” according to Mint report dated November 6.

Today, USL has rallied 7% to Rs 1,394 on back of heavy volumes. The stock opened at Rs 1,290 and has seen a combined 4.52 million shares changing hands on the counter so far on both the exchanges.

United Breweries (Holdings), which held 18% stake in USL, has locked in 5% upper circuit at Rs 132 on the NSE. A combined 3.76 million shares have already changed hands on the counter and there are pending buy orders for 272,559 shares at 1303 hours.

image
Business Standard
177 22

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

More News

  • Gold rebounds on jewellers' buying, silver jumps Rs 280/kg Gold rebounds on jewellers' buying, silver jumps Rs 280/kg
  • Image via Shutterstock DII ownership in stocks at six-year high

STOCK WATCH

Company Price() Chg(%)
Trident 56.00 12.45
VST Inds. 2296.20 10.12
GRUH Finance 345.20 9.33
J B Chem & Pharm 336.60 7.90
Century Textiles 709.85 5.92
> More on BSE Gainers
Company Price() Chg(%)
Trident 56.45 13.13
Future Lifestyle 137.65 10.92
GRUH Finance 346.05 9.46
VST Inds. 2284.90 9.22
J B Chem & Pharm 336.50 7.71
> More on NSE Gainers
Company Price() Chg(%)
Welspun India 49.70 -8.64
Shilpa Medicare 553.00 -7.82
Piramal Enterp. 1851.10 -5.41
Jaypee Infratec. 9.21 -4.76
Avanti Feeds 534.10 -4.20
> More on BSE Gainers
Company Price() Chg(%)
Welspun India 49.40 -8.60
Shilpa Medicare 551.70 -7.87
IDBI Bank 70.45 -6.38
Jaypee Infratec. 9.10 -5.70
Piramal Enterp. 1847.10 -5.48
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard